F&B767

OK, seriously newbie question. This is all in relation to buying money orders with a credit card, right? If so, what cards allow this and do not show it as a cash advance.
I didnt think this was possible.

aegt123

This thread is about MOs and other deposits in general, but definitely not about buying MO with a CC

I wish stores allowed us to buy MOs with a CC. Have only heard stories about things like that have never seen it happen.

AlohaDaveKennedy

Anything is possible, not necessarily probable. The folks in the UK have reporting that you can still purchase AMEX TCs with a CC. That animal was declared extinct some years back. And we recently had a reported sighting off the coast of New York of a bank taking a CC for an opening deposit, although that animal looked like it got hunted to extinction in a few hours. So can you buy an MO with a CC? The answer is yes, when the right CC funds a stored value card that in turn buys a MO. The stored value card is out there.

aegt123

Bought 10K+ MO at WM today. After 7K the cashier discouraged me from buying MO totaling 10K or more as she has to fill out additional forms. I said it was ok to fill out the form.

She then proceeded to fill out the CTR in front of me and took down my SS too.

gloreglabert

You do realize that's similar to saying "I don't mind getting my taxes audited by the IRS every year, since they won't find anything", yes?

aegt123

intentionally trying to avoid a tax audit is not illegal

iqbalt80

Painting a big target on your back Pal... Never tempt the cardinals

aegt123

Are you suggesting people to avoid purchasing MOs over 10K to avoid a CTR?

iqbalt80

I am suggesting that don't buy 10K in one session.. Break the transaction 4K Day 1, 2k Day2, 4K Day3 etc.

Why the mad dash.. jog a bit

aegt123

4+2+4 makes it ten too

tsmith12

It's not the question of hiding something, but if they come calling, the amount of time and energy you will waste in dealing with them will make you think twice of challenging them next time around.

Alcibiades

that is worse than buying $25,000 in one visit

HMPS

More important why put out your SOC, she has all other data on you ...Ever wonder how many people may get a look at your SOC /

Lemma

Actually, it can be, so be careful. Structuring transactions with the intent of evading reporting requirements is a felony that can land you in federal prison for five years, even if you did nothing else illegal. There is nothing illegal nor taxable about buying lots of money orders and depositing them in the bank, until you start structuring. You are doing something which looks very much like money laundering and the feds will probably think by convicting you they are doing the equivalent of getting Al Capone for tax evasion or Martha Stewart for making false statements.

If you are doing lots of smaller transactions that add up to more than 10k, you better have a good reason why you split them up. Even if you avoid a CTR being filed, you are likely to get a SAR when the cashiers and tellers you deal with notice that you are structuring. Unlike a CTR you will not know when a SAR has been filed. And if you don't want to get audited by the IRS, you're probably better off sending the message that you have nothing to hide by just doing one large transaction. If you do have something to hide, maybe you shouldn't be manufacturing spending. Also if you decide not to take my (non-legal) advice and structure anyway, you probably shouldn't post about it on a public forum. They need to prove intent to convict you which is easy if you posted that that was your intent.

gloreglabert

I think he was saying that intentionally avoiding a tax audit is not illegal, while intentionally avoiding a CTR (by breaking up one big transaction into multiple smaller ones) is. The latter part isn't what I was saying, though -- I'd be uncomfortable either with pseudo-structuring or making so many deposits as to get a bunch of CTRs filed.